- Crude oil weekly chart testing crucial resistance zone near 49 - 51. Weekly chart also shows the cloud as resistance.
- The falling wedge pattern is working in favour of bulls after a false move. Mostly these falls moves are followed by big gains in the opposite direction. Resistance levels for the current up move are 51 and 61 levels.
- ES RANGE FALSE BREAKDOWN
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- Range shown in second chart gave a false breakdown. First chart shows the false breakdown and the swift move in the opposite direction favouring es bulls.
- Bank of America daily stands below the falling 200 SMA. More weakness for the stock if price falls below 14.02 levels as shown in daily time frame.
- Structure in weekly is doing a corrective up move for the big fall from 18 levels. Now despite this corrective up move the structure will remain bearish price stays below the rectangle shown in last chart.
- Weekly resistance level is the golden ratio at 15.40.
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- ES Daily in a Descending triangle potential bearish pattern. Bears need price to sustain below the resistance line and 50 Day SMA.
- One hour chart is seen in a 10 Point range. Bigger moves only when the range gets resolved.
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- Crucial support for nifty is the 50 Day SMA Line. Close below this one may tilt the balance in favour of bears.
- Daily shows a broad range between 7680 to 8000 level. There is a small range within this big one which is stopping bigger moves from happening.
- ES daily has fallen below 50 Day sma. Next crucial support for bulls to protect is the 200 Day SMA. The bearish pattern shown in 4 hour chart will perform well if 200 SMA gets broken.
- Crude oil daily time frame shows price approaching crucial resistance zone near 50 Levels. Presence of weekly cloud here may also give a chance for crude bears to come back.
- One hour chart shows price in a trending move. Weakness if price starts to trade below hourly cloud.
